WI Sees Strong Showing in Residential Housing Market

Wisconsin Has Strong Showing in Residential Real Estate

Economists credit the state’s unemployment rate and pent up demand for Wisconsin’s strong showing so far this year in residential real estate.

The Wisconsin Realtors Association says the sales of existing homes rose nearly 17 percent in July from a year ago, with more than 8,650 homes sold last month.

And the median sales price of a home sold in the state increased by nearly 4 percent to almost $164,000 in July, compared to $158,000 a year ago.

The Milwaukee Journal Sentinel reports that home sales in northeastern Wisconsin saw the most growth in the state, with about a 30 percent increase from July 2014.

Additionally, home construction across Wisconsin is off to its strongest start in eight years.